Foreign bank account reporting

Hello there,

I just joined Trading 212 but had a quick question.

In Belgium, we need to report any foreign bank account to the tax authorities. This includes security accounts.

Typically, the information required are the bank account number, country where the account is located, name of the bank at which the account is open and the BIC code.

Could you please let me know whether Trading 212 opens a security account for each new investor joining or is just a platform where people register an account like on a forum for instance and then place money to be invested? If the former is applicable, where can I find that information?

Thank you for your help!

Hey,

We don’t open a separate security account for each client. Instead, your equities are in custody at Interactive Brokers. Here you can find more information.

Hey Tony,

Thank you for your quick reply!

I understand, thank you for the clarification.

Nevertheless, is there an identification number for each Trading 212 user over at Interactive Broker, which would be similar to the way an IBAN works (for regular bank accounts)? I mean, a number used for identification purposes (on which T212 account to deposit the money for instance).

During my research for a broker, I stumble upon one active in Belgium and the Netherlands, who also partners with Interactive Brokers UK. In their FAQ, they explain how to report their account in Belgian tax returns. They indicate IB address in the UK etc, and for the box “Bank account number”, they mention “UXXXXXXX” (I imagine the Xs are actual number different for each account) . Is this last information the same for T212 and can it be retrieved for each individual case?

Thank you again for your help

We don’t issue such information since we hold the equities on your behalf. Nonetheless, feel free to reach our customer care team should you need specific tax-related details concerning your account. We have clients from Belgium, and I’m positive that we’ll be able to offer a solution. :white_check_mark: